Global Blood Cancer Therapeutics Market 2019-2023
About this market
Leukemia is the most common type of cancer in children and also accounts for the highest mortality rate among cancers in pediatric patients. The prevalence of leukemia has been increasing at a significantly high rate. The incidence of other types of blood cancer such as lymphomas is also another factor driving the growth of the market, as it is leading to vendors conducting research on new areas. Most of the drugs are being developed for both lymphoma and leukemia, thus leading to more vendors entering the market to research on novel therapies. The high incidence of various types of leukemia in pediatric patients is expected to be one of the major drivers of the global blood cancer therapeutics market during the forecast period. Technavio’s analysts have predicted that the blood cancer therapeutics market will register CAGR of over 8% by 2023.
Growing adoption of therapeutics
The increasing awareness about the disease, along with the increasing global incidence, is leading to more patients undergoing diagnosis and opting for treatment during the early stages of the disease. This is leading to the increasing adoption of therapeutics for the treatment. These factors are expected to result in the growth of the global blood cancer therapeutics market during the forecast period.
Adverse effects of stem cell transplantation
Bone marrow and stem cell transplantations are some of the most effective treatment options for the treatment of blood cancer types such as leukemia, multiple myeloma, and non-Hodgkin's lymphoma. Although the treatment using stem cells is highly effective for the treatment of cancer, the side effects associated with the treatment are often high. The threat of side effects of stem cell transplant is expected to continue posing a challenge to the market growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the blood cancer therapeutics market during the 2019-2023, view our report.
The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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